Bush signs housing rescue bill
July 30, 2008 02:12PM
President Bush
President Bush signed the housing rescue bill that will help bail out Fannie Mae and Freddie Mac today. The law aims to stem foreclosures and the free-fall of housing prices by providing federal insurance for refinanced 30-year mortgages for struggling homeowners. The law will also tighten regulations on Fannie and Freddie and authorize the Treasury to inject capital into the lenders.
[Bloomberg]
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